ttorney Janine A. Scott recently published her first book, Legal Aid Wealth, Surviving and Thriving on the Salary of a Public Interest Attorney. Ms. Scott is the daughter of KC Old Boy, Norman Scott, a former Secretary of the New York Chapter of the KCOBA.
Published at a time when the US and much of the world is experiencing a recession, the book is most timely and definitely worth the read. It is a practical guide on how to not just survive, but to live comfortably, on a modest income. While the author focuses on how she effectively manages her finances on the relatively modest salary of a legal aid attorney, the book is by no means restricted to attorneys. Instead, the real life, common-sense advice offered on repaying student loans, establishing a personal spending plan, saving for retirement, purchasing a home, and eliminating consumer debt, are applicable across all professions or careers.
The underlying theme of the article is that working for the public good, or pursuing a career path that one truly desires, is not necessarily incompatible with having a good standard of living if good money management techniques are learned and implemented.
Ms. Scott credits much of her success to her parents and the strong commitment to education and achievement which they inculcated within her.
"My father, Norman Scott, who is KC Old Boy, always taught me the importance of managing properly. I developed a regular habit of saving a portion of any money that came my way. As a result of this and the magic of something called compound interest, I have seen my investment portfolio increase significantly. I can tell you, first-hand, that it's not about how much money you make, but it's how you handle it and make it work for you. As a public interest attorney who serves the low-income population, my salary is not high in comparison to attorneys who are in private practice. Nevertheless, even in a down economy, I contribute 15% of my gross salary to a retirement plan; I have no credit card debt; I own my own home, I travel the world; and I give to causes that are important to me. If there is one thing that I can get people to do after reading my book, it is to pay yourself first. By making yourself creditor number one, you will find that you won't have to work for money; money will start to work for you."
Ms. Scott obtained her law degree from Syracuse University College of Law and is currently employed as a trial attorney at Maryland Legal Aid Bureau, Inc. where she has worked for approximately 10 years, specializing primarily in the area of family law. She has appeared on the Baltimore radio program “Real Money” hosted by Deborah Owens where she shared how she handles her own money. She presently resides in Baltimore, Maryland.
For more information, please visit http://www.legalaidwealth.com/author.htm.
Janine Scott
